Assignment of Lien

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

ASSIGNMENT OF LIEN

This ASSIGNMENT OF LIEN (hereinafter referred to as the “Agreement”) is made and entered into on this {{day}} day of {{month}}, {{year}}, by and between:

{{assignor_company_name}}, a company duly incorporated and existing under the laws of {{assignor_jurisdiction}}, with its principal place of business located at {{assignor_address}} (hereinafter referred to as “the Assignor”);

AND

{{assignee_company_name}}, a company duly incorporated and existing under the laws of {{assignee_jurisdiction}}, with its principal place of business located at {{assignee_address}} (hereinafter referred to as “the Assignee”).

Collectively referred to as “the Parties” and individually as “Party”.

RECITALS

WHEREAS, the Assignor is the holder of a valid and existing lien (hereinafter referred to as “the Lien”) against {{debtor_name}}, residing at {{debtor_address}}, in the original amount of {{original_lien_amount}}, granted on {{lien_grant_date}}, pertaining to {{description_of_original_debt_or_security}}.

WHEREAS, the Lien is registered/recorded in {{registration_authority}} under reference number {{registration_number}}.

WHEREAS, the Assignor desires to assign all its rights, title, and interest in and to the Lien to the Assignee, and the Assignee desires to acquire such rights, title, and interest from the Assignor.

ASSIGNMENT

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Assignor does hereby unconditionally and irrevocably assign, transfer, and convey to the Assignee all of its right, title, and interest in and to the Lien, including all associated rights, powers, privileges, and remedies thereunder.

The outstanding balance secured by the Lien as of the effective date of this Agreement is {{outstanding_lien_amount}}.

REPRESENTATIONS AND WARRANTIES OF THE ASSIGNOR

The Assignor hereby represents and warrants to the Assignee that:

a) The Assignor is the sole and rightful owner of the Lien and has the full power and authority to assign the Lien.

b) The Lien is valid, subsisting, and enforceable, and there are no existing defenses, offsets, or counterclaims known to the Assignor that would impair the Assignee's rights under the Lien.

c) The Assignor has not previously assigned, transferred, or encumbered the Lien or any part thereof.

d) All necessary approvals, consents, and authorisations for this Assignment have been obtained.

COVENANTS OF THE ASSIGNOR

The Assignor covenants and agrees to:

a) Execute and deliver such further instruments and documents, and do all such further acts, as the Assignee may reasonably request to perfect and confirm the assignment of the Lien.

b) Provide the Assignee with all original documents, records, and information pertaining to the Lien upon execution of this Agreement.

INDEMNIFICATION

The Assignor shall indemnify and hold harmless the Assignee from and against any and all claims, liabilities, costs, and expenses (including reasonable attorneys' fees) arising from any breach of the Assignor's representations or warranties contained herein.

GOVERNING LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with the laws of {{governing_country}}. Any dispute arising out of or in connection with this Agreement shall be subject to the exclusive jurisdiction of the courts of {{governing_country}}.

ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, of the Parties.

Signature Block

IN WITNESS WHEREOF, the Parties have executed this Assignment of Lien as of the day and year first above written.

FOR THE ASSIGNOR:

_____________________________

Name: {{assignor_signatory_name}}

Title: {{assignor_signatory_title}}

Date: {{assignor_signature_date}}

FOR THE ASSIGNEE:

_____________________________

Name: {{assignee_signatory_name}}

Title: {{assignee_signatory_title}}

Date: {{assignee_signature_date}}